MasterCard (MA) shares are trading near all-time highs at $413.

🇺🇸 MasterCard (MA) shares are trading near all-time highs at $413.

📰 More than three years after the People's Bank of China approved MasterCard's application to begin official clearing activities with domestic bank cards, the country's Administration for Financial Regulation (NAFR) has also approved a similar initiative. Now MasterCard can officially issue cards under its brand in China, becoming a competitor to American Express Co.

📊 MasterCard's third-quarter financial report showed revenue of $6.5 billion, which was slightly below analysts' forecast of $6.53 billion, but higher than $6.3 billion in the previous quarter. Earnings per share (EPS) hit a record high, reaching $3.39 versus the forecast of $3.21, as well as the previous quarter's figure of $2.89.

📈 Analysts recommend buying MA shares with a target of $450

04.12.2023